Tuesday, July 1, 2014

Cameroon Endorses Long-Dreaded Fuel Price Hike

The price per litre of diesel has increased by CFA 80 Frs
Yaounde, Cameroon—In a move that critics have termed, a response to pressure, the Cameroon government has increased the price of fuel and domestic gas as from today, July 1, 2014.
Following the adjustments, a litre of super that previously cost CFA 569 Frs will now be sold at CFA 650 Frs. A litre of gasoil (diesel) previously sold at CFA 520 Frs will now cost CFA 600 Frs, while a 12.5KG bottle of cooking gas which previously cost CFA 6000 will hence cost CFA 6500 Frs.
The price of Kerosene which is used by a majority of Cameroonians has been maintained at CFA 350 Frs per litre.
A release from the prime minister’s office explains that the increment will help the government to secure money needed to finance other projects in the country.
The government in the same release announced tax reductions and salary adjustment for civil servants and review of minimum wages.
The Cameroon government has spent CFA 1.2 billion on fuel and domestic gas subsidies between 2008 and 2013.
Consumers’ rights activists in Cameroon have criticized the price hike saying consumers were not consulted.
By Ndi Eugene Ndi in Yaounde

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